This Morning in Metals: Cobalt Demand Continues to Rise

This morning in metals news, the cobalt craze intensifies, Switzerland goes to the World Trade Organization (WTO) over the U.S. steel and aluminum tariffs, and U.S. raw steel production for the week ending July 7 was up 3.4%.

Demand for Cobalt Rises

The rare material is coveted by automakers and tech companies, particularly in electric vehicle batteries. Demand for cobalt to be used in electric battery materials is projected to rise 40% this year, according to Darton Commodities, CNBC reported.

Switzerland Files WTO Complaint

Switzerland joined the growing list of countries to file a WTO complaint over the U.S. steel and aluminum tariffs, Reuters reported.